Presale: Japan Housing Finance Agency (Series 221)

Preliminary rating as of Sept. 12, 2025* Preliminary rating Preliminary amount (bil. ¥) Coupon type Legal final maturity date Overcollateralization ratio (%) § AAA (sf) 50.2 Fixed rate Oct. 10, 2060 25.1 Note: This presale report is based on information as of Sept. 17, 2025. The ratings shown are preliminary. Subsequent information may result in the assignment of final ratings that differ from the preliminary ratings. Accordingly, the preliminary ratings should not be construed as evidence of final ratings. This report does not constitute a recommendation to buy, hold, or sell securities. *We announced the assignment of our preliminary rating to JHF's series 221 notes on Sept. 12, 2025. This report reflects updated information regarding the receivables pool and the

...S&P Global Ratings has assigned its preliminary '### (sf)' rating to Japan Housing Finance Agency's (JHF) Ñ50.2 billion series 221 fixed-rate residential mortgage-secured pass-through notes and beneficiary certificates (subsequent to a trigger event). Our preliminary rating reflects our opinion on the likelihood of the full and timely payment of interest, or interest distribution in the case of the beneficiary certificates, allowing for a three-...

Presale Report